A USFirm Has Total Assets Valued at €918,000 Located in Germany

question 3

Multiple Choice

A U.S.firm has total assets valued at €918,000 located in Germany.This valuation did not change from last year.Last year, the exchange rate was €.92 = $1.Today, the exchange rate is €.80 = $1.By what amount did these assets change in value for the year on the firm's U.S.financial statements?

• A)-$149,673.91
• B)-$162,311.19
• C)$162,311.19
• D)$149,673.91
• E)$0

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